Business Wire

IFF Launches ESG 2030 ‘Do More Good Plan’

Share

IFF (NYSE:IFF) today announced its environmental, social and governance (ESG) roadmap for the combined Company. The 2030 ‘Do More Good Plan’ (the Plan) includes ambitious targets that are aligned with IFF’s purpose of applying science and creativity for a better world.

“With our Do More Good Plan, we are taking another bold step in our aspirations to do more for people, planet and product,” said Andreas Fibig, IFF Chairman & CEO. “Ten years ago, when we formalized our sustainability program, we knew the journey would lead us to being even better partners with our customers, communities and stakeholders. To date, our efforts have achieved ratings above industry standards and have had real impact throughout our value chain. Today, we are going further. With this Plan, we are embedding even more ambitious targets, in our operations and partnerships, to address the urgent issues that affect our world.”

The Plan comprises four key areas:

1. Environmental

To support environmental stewardship across its operations, IFF will accelerate its commitment to climate action by setting new science-based ambitions to reduce greenhouse gas emissions (GHGs) by 50% below 2021 levels by 2030; to achieve net zero GHGs by 2040; and to be net positive by 2050.1 By 2030, IFF will also verify zero waste to landfill, including plastics minimization, for all major manufacturing facilities, and champion water stewardship solutions within its operations. Additionally, the Company commits to accelerating its responsible sourcing practices by promoting regenerative ecosystems and achieving zero deforestation for strategic raw material supply chains by 2030, beginning with palm, soy and wood.

2. Social

Aligned with its social responsibility targets, IFF is advancing its commitment to people and communities. Milestones include strengthening diversity, equity & inclusion within its workforce by having 40% people of color in management roles in the United States by 2030, with equitable representation in other markets globally; and aiming for greater gender balance with women holding 50% of all management roles, companywide. IFF is also committed to continuously improving its safety program by striving for an injury-free workplace, and achieving world-class safety performance. Within its responsible sourcing program, the Company will continue to promote human rights and animal welfare, while supporting farmers’ livelihoods and ensuring prosperous and equitable value chains.

3. Governance

To enhance accountability in line with evolving stakeholder expectations, the Company will launch ESG metrics tied to executive compensation and will expand oversight for ESG at the Board of Directors level. IFF remains on track to increase its transparency in disclosures and key performance indicators.

4. Sustainable Solutions

IFF will assist its customers in achieving their own ESG goals by delivering an expanded suite of sustainable solutions for the market. With this focus on sustainable growth, IFF intends for all new innovations to have a sustainability value proposition that supports people and planet with health & wellbeing products, solutions for sustainable food systems and circular economy strategies. As one of its climate action aspirations, the Company aims to enable customers and consumers to save at least 50 times more CO2e than generated at IFF’s own manufacturing sites by providing innovation solutions such as sustainable proteins as well as enzymes solutions which enable food waste reduction and energy savings.

“Our purpose is inextricably tied to securing a better, more sustainable world,” said Dr. Greg Yep, EVP, Chief Research & Development, Global Integrated Solutions and Sustainability Officer. “This Plan is designed to build on our long-standing commitments to people and planet while showcasing our strengths in science, technology and innovation. As a next step, we are operationalizing these ambitions and their action plans across our divisions and functions so that, together, we will achieve our goals and hold ourselves accountable in meaningful and measurable ways.”

Today’s announcement builds on IFF’s track record of ESG accomplishments, including the following:

2021

  • CDP “A” list designation for climate change, water security and forests.
  • Dow Jones Sustainability Indices placement, 2nd consecutive year.
  • Best Place to Work for LGBTQ Equality award, 3rd consecutive year.
  • Best Place to Work for Disability Inclusion award, 2nd consecutive year.

2020

  • Economic Dividend for Gender Equality (EDGE) recognition for being the first company to earn Move level certification, globally.

To learn more about IFF’s Do More Good Plan, please visit iff.com/responsibilities/strategy-reporting and refer to IFF’s forthcoming 2021 sustainability report.

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.

_____________________________________
1
Pending finalization and approval by the Science Based Targets Initiative

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Michael DeVeau
Chief Investor Relations & Communications Officer
212.708.7164
Michael.DeVeau@iff.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation

Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release

Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private

Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding

Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår

V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release

V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust

Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release

Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo

World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye